Saxony Bitcoin Sale: Parliament Seeks Clarity on Proceeds Distribution
The Saxon state parliament has sought clarification on the sale and distribution of proceeds from the state's Bitcoin holdings. This comes after around 5,000 Bitcoins, currently valued at approximately 300 million euros, were sold. However, the Saxon government has yet to respond to these inquiries.
The sale of these Bitcoins, often referred to as the 'Saxony Bitcoin treasure', is handled by the State Treasury of Saxony in collaboration with the Saxon Ministry of the Interior. The General Prosecutor's Office of Saxony oversees the sale, with assistance from the LKA and BKA for technical aspects.
When assets exceed 500,000 euros, the distribution of proceeds is as follows: 52.5% goes to the Ministry of the Interior and 22.5% to the Ministry of Justice. The remaining 25% is allocated to the general state budget of the Free State of Saxony.
In a separate development, the BKA holds 44,692 Bitcoins, worth around 2.6 billion euros, seized from the Movie2k platform. Emergency sales can be initiated if there's a risk of rapid value loss.
The sale of seized Bitcoins, including the recent transaction of around 5,000 BTC, is a complex process involving multiple agencies. The proceeds contribute to the general state budget, with specific percentages allocated to different ministries based on the asset's value.
